Cincinnati, Ohio, January 16, 2026
A federal grand jury in Cincinnati has indicted four individuals and the Vision & Beyond Group LLC for their involvement in a $50 million bank fraud conspiracy. The indictment details allegations of bank fraud, making false statements, and money laundering, involving intricate falsification of financial documents for multiple loans on properties. Key defendants include the co-owners of V&B and employees of a title company who are accused of facilitating these fraudulent activities. The case emphasizes the importance of integrity in real estate dealings and highlights ongoing investigations into financial fraud.
Cincinnati, Ohio – Federal Grand Jury Indicts Four Individuals and Real Estate Business in $50 Million Fraud Conspiracy
Cincinnati, Ohio – A federal grand jury has indicted four individuals and a real estate business, Vision & Beyond Group LLC (V&B), in connection with a $50 million bank fraud conspiracy. The charges include conspiring to commit bank fraud, bank fraud, making false statements, and money laundering. The indictment names V&B co-owners Stanislav Grinberg and Peter Gizunterman, along with real estate closing and title company employees Keya Hamilton and Kelly West. Grinberg was initially charged by criminal complaint in March 2025.
Details of the Alleged Scheme
According to the indictment, Grinberg and Gizunterman established V&B around 2019 with the goal of purchasing 100 multi-unit apartments and family properties for renovation and rental income. They allegedly obtained refinancing for these properties but failed to use the funds to pay off existing loans and mortgages. Instead, the defendants are accused of falsifying financial documents, altering closing documents, and removing mortgages from title commitments. In December 2022, Grinberg and Gizunterman secured two loans totaling over $36 million for approximately 60 multi-family properties in the Cincinnati area. These loans were intended to pay off 30 specific prior mortgages. However, it is alleged that 20 of these prior mortgages, amounting to $17.2 million, were not paid off at closing. Instead, over $273,000 was allegedly paid directly to Hamilton; nearly $7 million was paid to a title company controlled by Hamilton and used by V&B; over $6.2 million was paid directly to V&B’s account; and approximately $2.7 million was paid to another bank. A similar scheme is alleged to have occurred in 2023 involving four apartment complexes in Lexington, Kentucky, with loans totaling $24.6 million.
Charges and Legal Proceedings
The indictment charges each defendant with conspiring to commit bank fraud, bank fraud, making false statements, and money laundering. Grinberg was originally charged by criminal complaint in March 2025. The indictment alleges that the defendants engaged in a scheme to double-pledge properties to obtain multiple loans and conspired to conceal information from lenders and investors.
Background on the Defendants
Stanislav Grinberg and Peter Gizunterman are Israeli real estate investment entrepreneurs who co-own Vision & Beyond Group LLC. Keya Hamilton and Kelly West are employees of a real estate closing and title company. The indictment alleges that Hamilton and West assisted Grinberg and Gizunterman in obtaining refinancing for the properties and in falsifying financial documents.
Potential Penalties
If convicted, the defendants face significant penalties, including substantial fines and lengthy prison sentences. The exact penalties will depend on the specific charges and the court’s findings.
Ongoing Investigation
The investigation is ongoing, and authorities are working to identify and prosecute all individuals involved in the alleged fraud scheme. The U.S. Attorney’s Office for the Southern District of Ohio, along with other federal agencies, is leading the investigation.
Impact on the Real Estate Industry
This case highlights the importance of transparency and integrity in the real estate industry. Double-pledging properties and concealing information from lenders and investors can have serious legal and financial consequences. The indictment serves as a reminder to all real estate professionals to adhere to ethical practices and comply with all applicable laws and regulations.
Conclusion
The indictment of Vision & Beyond Group LLC and its co-owners, along with employees of the real estate closing and title company, underscores the federal government’s commitment to investigating and prosecuting financial fraud schemes. The case is a significant development in the ongoing efforts to maintain integrity and trust in the real estate market.
Frequently Asked Questions (FAQ)
What is the Vision & Beyond Group LLC?
Vision & Beyond Group LLC (V&B) is a real estate investment business co-owned by Stanislav Grinberg and Peter Gizunterman. The company focuses on purchasing multi-unit apartments and family properties for renovation and rental income.
What are the charges against the defendants?
The defendants are charged with conspiring to commit bank fraud, bank fraud, making false statements, and money laundering. These charges relate to an alleged scheme involving double-pledging properties to obtain multiple loans and concealing information from lenders and investors.
What penalties do the defendants face if convicted?
If convicted, the defendants face significant penalties, including substantial fines and lengthy prison sentences. The exact penalties will depend on the specific charges and the court’s findings.
Who are Keya Hamilton and Kelly West?
Keya Hamilton and Kelly West are employees of a real estate closing and title company. They are alleged to have assisted Grinberg and Gizunterman in obtaining refinancing for properties and in falsifying financial documents.
What is the status of the investigation?
The investigation is ongoing, with authorities working to identify and prosecute all individuals involved in the alleged fraud scheme. The U.S. Attorney’s Office for the Southern District of Ohio, along with other federal agencies, is leading the investigation.
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Key Features of the Case
| Feature | Details |
|---|---|
| Defendants | Vision & Beyond Group LLC, Stanislav Grinberg, Peter Gizunterman, Keya Hamilton, Kelly West |
| Charges | Conspiracy to commit bank fraud, bank fraud, making false statements, money laundering |
| Alleged Scheme | Double-pledging properties to obtain multiple loans, concealing information from lenders and investors |
| Potential Penalties | Substantial fines, lengthy prison sentences |
| Investigation Status | Ongoing, led by the U.S. Attorney’s Office for the Southern District of Ohio and other federal agencies |
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